012653AE1 Correlations

012653AE1

98.74 2.00 2.07%

The current 90-days correlation between ALB 505 01 and Air Products and is -0.02 (i.e., Good diversification). The correlation of 012653AE1 is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

012653AE1 Correlation With Market

Good diversification

The correlation between ALB 505 01 JUN 32 and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALB 505 01 JUN 32 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 012653AE1 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 012653AE1 when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back 012653AE1 - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ALB 505 01 JUN 32 to buy it.

Moving together with 012653AE1 Bond

0.61	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.71	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.84	KO	Coca Cola Aggressive Push	Pair Corr

Moving against 012653AE1 Bond

0.82	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.68	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.63	WMT	Walmart Aggressive Push	Pair Corr
0.6	DIS	Walt Disney	Pair Corr
0.58	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.57	HPQ	HP Inc	Pair Corr
0.49	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.36	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	APD	BCPC	TITN	HWKN	SSY	CDXS	FRCOF	LXFR
APD		0.21	0.53	0.31	0.34	0.66	0.65	0.75	APD
BCPC	0.21		0.48	0.34	-0.1	0.72	-0.06	0.54	BCPC
TITN	0.53	0.48		0.4	0.26	0.6	0.24	0.46	TITN
HWKN	0.31	0.34	0.4		-0.17	0.26	0.35	0.06	HWKN
SSY	0.34	-0.1	0.26	-0.17		0.02	0.15	0.19	SSY
CDXS	0.66	0.72	0.6	0.26	0.02		0.25	0.83	CDXS
FRCOF	0.65	-0.06	0.24	0.35	0.15	0.25		0.48	FRCOF
LXFR	0.75	0.54	0.46	0.06	0.19	0.83	0.48		LXFR
	APD	BCPC	TITN	HWKN	SSY	CDXS	FRCOF	LXFR

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

LXFR	+ 0.83	CDXS
LXFR	+ 0.75	APD
CDXS	+ 0.72	BCPC
CDXS	+ 0.66	APD
FRCOF	+ 0.65	APD
CDXS	+ 0.6	TITN

High negative correlations

SSY	- 0.17	HWKN
SSY	- 0.1	BCPC
FRCOF	- 0.06	BCPC

Risk-Adjusted Indicators

There is a big difference between 012653AE1 Bond performing well and 012653AE1 Corporate Bond doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze 012653AE1's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
APD	0.91	0.27	0.18	1.17	0.54	(1.01)	1.90	(1.38)	10.91
BCPC	1.11	(0.02)	0.00	0.10	1.26	(1.25)	2.64	(1.99)	8.32
TITN	2.18	(0.16)	0.02	0.06	2.71	(2.30)	5.83	(4.18)	19.53
HWKN	1.67	(0.12)	0.00	0.06	2.48	(1.62)	3.27	(3.65)	12.56
SSY	2.83	0.01	0.00	0.08	0.00	0.00	6.74	(8.05)	20.59
CDXS	3.15	0.53	0.19	0.38	2.76	(3.78)	9.28	(5.06)	18.89
FRCOF	1.32	0.19	0.00	(2.19)	0.00	0.00	5.41	(6.37)	23.45
LXFR	1.87	0.41	0.22	0.54	1.51	(2.45)	3.72	(2.67)	16.99

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Our tools can tell you how much better you can do entering a position in 012653AE1 without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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